Sahirah received a promissory note valued at RM8,550 for 115 days with an interest rate of 5.5% per annum. The note matured on 28th May 2014. Find: the date of the note the maturity value of the note.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Sahirah received a promissory note valued at RM8,550 for 115 days with an interest rate of 5.5% per annum. The note matured on 28th May 2014. Find:

  1. the date of the note
  2. the maturity value of the note.

RM 8500                                                                                    14 April 2014

100 days after date we promise to pay the order of Sentosa Mart Sdn Bhd the sum of Ringgit Malaysia eight thousand and five hundred only for value received with interest at 3.5% per annum

                                                                                      Beauty Life Company

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